SBA Communications (NASDAQ:SBAC) Sets New 52-Week Low - What's Next?

Key Points

• SBA Communications' stock reached a new 52-week low of $191.28, closing at $192.50, indicating a decline in investor sentiment.
• Analysts have mixed ratings for the stock, with a consensus rating of "Moderate Buy" and a price target averaging $256.38.
• The company announced a quarterly dividend of $1.11 per share, with a current dividend yield of 2.4%.

SBA Communications Corporation (NASDAQ:SBAC - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The company traded as low as $191.28 and last traded at $192.50, with a volume of 95856 shares. The stock had previously closed at $197.74.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Raymond James Financial set a $265.00 price objective on shares of SBA Communications and gave the stock a "strong-buy" rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective for the company. in a research note on Tuesday, May 20th. Morgan Stanley lifted their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd. Scotiabank started coverage on shares of SBA Communications in a research note on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price objective for the company. Finally, Citigroup restated an "outperform" rating on shares of SBA Communications in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $256.38.

SBA Communications Trading Up 0.3%

The business's 50 day moving average is $219.72 and its 200 day moving average is $224.06. The stock has a market capitalization of $21.47 billion, a PE ratio of 25.41, a PEG ratio of 1.89 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping analysts' consensus estimates of $3.10 by $0.07. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The firm had revenue of $698.98 million during the quarter, compared to analysts' expectations of $670.73 million. During the same period in the previous year, the company earned $3.29 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. As a group, analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be issued a dividend of $1.11 per share. The ex-dividend date is Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a yield of 2.2%. SBA Communications's dividend payout ratio (DPR) is presently 56.42%.

Institutional Investors Weigh In On SBA Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Independence Bank of Kentucky bought a new stake in shares of SBA Communications in the 1st quarter valued at about $28,000. CVA Family Office LLC raised its holdings in shares of SBA Communications by 106.3% in the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company's stock valued at $31,000 after purchasing an additional 67 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of SBA Communications in the 1st quarter valued at about $33,000. Allworth Financial LP raised its holdings in shares of SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after purchasing an additional 62 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock valued at $36,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 97.35% of the company's stock.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.